BKIC recorded $1.9 million in net profits in 1H 2002
The Bahrain Kuwait Insurance Company (BKIC) posted 734,370 Bahraini dinars ($1.9 million) in net profits in the first half of 2002 compared to BD 634,063 in profits during the same period in the previous year, according to the company’s latest published financial results.
The company’s gross premium revenue increased by 15 percent to eight billion dinars in the first six months of the year, while return on shareholder’s funds reached 5.6 percent for the same period.
Established in 1975, BKIC is allowed to operate as a national insurance company both in Bahrain and Kuwait and is currently involved in all classes of insurance with the major categories being Fire, General Accident, Engineering, Marine, Motor, Group Life and Health. The company’s shares are equally divided between Bahraini and Kuwaiti shareholders. — (menareport.com)
© 2002 Mena Report (www.menareport.com)